The year is quickly drawing to a close, but we have unfinished business to conduct here at Above the Law. Come on, people, we still have to crown our Lawyer of the Year for 2012.
Thank you to everyone who responded to our call for nominations, in the comments or via email. We’ve narrowed down the nominees to a field of nine (although you’ll see only eight options in the poll because one is a joint nomination). As in past years, the contenders run the gamut from distinguished to despicable.
* NALP is becoming the harbinger of doom for law practice. Here’s some cheerful news: the percentage of female associates in Biglaw dropped for the third year in a row. Perhaps they’re going the way of the Clifford Chance mommy. [National Law Journal]
* Biglaw hotties are coming to a continent near you! Davis Polk & Wardell will be adding a litigation practice to its existing shop in Hong Kong, and they managed to poach two big name Clifford Chance litigators in the process. [DealBook / New York Times]
* According to the ACC, in 2012, base salaries for general counsel rose 1.9 percent, while cash bonuses dropped 7.9 percent. But really, who’s going to complain about a six-figure bonus? [Corporate Counsel]
* A Delaware jury ruled that Apple infringed on several patents in a mobile-device technologies case filed by MobileMedia Ideas. Somewhere, Samsung’s bigwigs are laughing their asses off. [WSJ Law Blog (sub. req.)]
* A woman was arrested in Spain for trying to smuggle in cocaine from Colombia. Seems pretty standard, except for the fact that she was hiding the coke in brand new breast implants — three pounds of it! [CNN]
It’s time to announce the winner of November’s Lawyer of the Month competition. Our five contestants all made the news recently for their deeds of derring-do, be they on the bench on the bike path. As usual, one of them stole the show, both in your votes and in national media coverage.
From Above the Law, to the Huffington Post, to the New York Times, November’s winner rocked the legal profession and caused many to reevaluate their lives — and ultimately, their happiness. As it turns out, sometimes the wonderful world of Biglaw isn’t all it’s cracked up to be.
November brought us many things to be thankful for, ranging from time spent with family to hurricane relief efforts to the lawyerly antics worthy of representation in our Lawyer of the Month competition.
In what’s probably a first, the majority of this month’s contestants are judges, with a mere sprinkling of lawyers here and there. But when it comes to laying down the law — at least insomuch as this contest is concerned — these controversial jurists are top notch.
Let’s check out our nominees for November’s Lawyer of the Month….
Since we published, the story has gone everywhere. The Huffington Post weighed in, and so did the New York Times. I’m glad so many people are finding out that working at one of the top law firms in the world is really difficult. Welcome to our world — they’re not paying people $160,000 and up to work from 9 to 5.
But one disturbing trend in the coverage of this story is the move to blame the husband. Ms. X’s husband only appears once in her tick-tock:
7:45pm: Negotiate with husband over who will do bathtime and bedtime routine; lose
That line has led to rampant speculation about the deadbeat loser Ms. X must be married to. Vivia Chen of The Careerist had one of the more restrained slams on this guy: “Not to be presumptuous, but I think we should all chip in for some negotiation courses for this poor woman. I realize we don’t have all the facts, but her husband seems to be getting away with murder.”
Well, you know what? I’ve been a Biglaw associate, and a Biglaw spouse, and let me tell you, it’s not as easy as it looks. Just because a lady “loses” the negotiations on domestic chores doesn’t mean that she’s married to a sexist pig, and it doesn’t mean the guy is “getting away with murder”….
Not pictured: the Biglaw train barreling towards this family.
I’ve read this departure email three times this morning, all while a sleeping six-week-old snores up at me. It’s a departure memo where a Biglaw associate kind of admits that she can no longer juggle the demands of parenthood and the demands of being a Biglaw lawyer. In a way, it’s heartbreaking. I don’t know this woman, and I don’t know what her hopes and dreams are or might have been, but it shouldn’t be so damn hard — in the richest country on Earth — to have a big-time job and be a loving parent. The struggles highlighted by this woman make me sad as a new parent myself.
In another way, this memo is uplifting. You can’t have it all. When you finally come to accept that, it’s liberating. You don’t have to feel like a bad employee or a bad parent for not being able to do it all. As Al Pacino says in the Devil’s Advocate: “Guilt is like a bag of bricks, all you gotta do is set it down.”
So, take a look as one woman bows out of the rat race….
The world keeps getting smaller, but the law firms keep getting bigger. The American Lawyer magazine just announced its Global 100, the world’s 100 largest law firms in terms of total revenue, and Biglaw seems bigger than ever.
Despite the challenging economic climate, law firms continue to grow. In three key categories — revenue, profits per partner, and attorney headcount — the top firm for 2012 boasts a bigger number than last year’s #1 firm….
* Bankruptcy blues: “No one is getting a free pass.” Howrey going to start clawing back all of that money from our former partners and their new firms? Dewey even want to get started with this failed firm’s D&L defectors? [Am Law Daily (sub. req.)]
* Way to show that you’ve got some Seoul: Ropes & Gray, Sheppard Mullin, and Clifford Chance were the first Biglaw firms to receive approval from the Korean Ministry of Justice to open the first foreign firm offices in South Korea. [Legal Week]
* This is supposed to represent an improvement? Pretty disappointing. The percentage of women holding state court judgeships increased by a whopping 0.7 percent over last year’s numbers. [National Law Journal]
* Throw your birth control pills in the air like confetti, because a judge tossed a lawsuit filed by seven states that tried to block the Affordable Care Act’s mandatory contraception coverage provision. [Lincoln Journal Star]
* “[S]omewhere along the way the guy forgot to tell the seller that he was working with the buyer.” Duane Morris was sued for negligence and breach of fiduciary duty for more than $192M. [Thomson Reuters News & Insight]
* Please don’t Google me, bitches. Brandon Hamilton, Louisville Law’s ex-assistant dean for admissions, resigned Monday after overpromising $2.4M in scholarship money to incoming law students. [Courier-Journal]
* A New Hampshire college is offering free tuition to students in their junior year if they combine their senior year with their first year at the Massachusetts School of Law. The catch? Mass Law is unaccredited. [NHPR]
April’s showers were supposed to bring May’s flowers, but last month turned out to be nothing but doom and gloom for the legal world. Not only did we get to see the biggest collapse of a law firm in U.S. history, but we also caught a glimpse of some of the worst allegations of attorney misconduct that we’ve seen in quite some time.
So, which attorney called opposing counsel an “ignorant slut”? Who busied himself with drawing pictures of male genitalia during a deposition? Which attorney wrote a letter to a former opponent in order to call him an “a-hole”? And who referred to a female attorney as the c-word?
Find out this, and more, when you check out our nominees for May’s Lawyer of the Month competition….
We’ve written time and again about the dangers of using the reply-all email function, but it seems that those in Biglaw just can’t take the hint. It’s how allegedly lecherous Quinn Emanuel partners get outed. It’s how apparently discontent MoFo partners share their feelings about the firm. It’s how Skadden partners make their evaluations of associates less than confidential.
And now, it’s how senior associates at Clifford Chance implore their colleagues to stop furiously masturbating to them….
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: